Don’t Let Wall Street Offshore Its Recklessness

Urge the Commodity Futures Trading Commission to Keep Risky Derivatives Trades in Check, No Matter Where They Occur

Some of Wall Street’s most reckless and risky gambling occurs in the global derivatives market.

The Commodity Futures Trading Commission (CFTC) is readying to crack down on this reckless gambling – but Wall Street lobbyists are demanding loopholes that will make the new regulations virtually meaningless.

CFTC commissioners wrote strong rules to prevent Wall Street from engaging in risky transactions that could jeopardize our country’s financial security, no matter where in the world those transactions happen. But Wall Street – with help from foreign banks and foreign regulators – is pushing for rules that would, in effect, limit the scope of US enforcement to derivatives traders physically based in this country.

This would create a giant loophole that would encourage banks – the biggest of which already have major operations outside of the U.S. – to move transactions offshore to escape regulation.

Petition to the Commodity Futures Trading Commission

We, the undersigned, urge you to stand up for rules that apply the transparency and safety requirements of the Dodd-Frank Wall Street reform act to ALL derivatives transactions relevant to U.S. markets, regardless of whether these transactions are routed through a foreign subsidiary or entity.

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1-25
of 16148 signatures

Number

Date

Name

Add a Comment

16148

Sat Nov 02 23:51:04 EDT 2013

Jolene Rutherford

Will this criminal behavior never end? Has no one noticed that it amounts to treason - depending on how you look at it?
It's the unscrupulous wealthy of this country that are sucking welfare out of More....our coffers at an alarming rate.

16147

Fri Sep 27 14:42:39 EDT 2013

David Cotner

16146

Mon Sep 09 09:55:52 EDT 2013

Ken Gale

American corporations should support American laws, not violate them "legally."

16145

Sat Jul 13 19:05:16 EDT 2013

Carlos Echevarria

16144

Fri Jun 28 22:58:25 EDT 2013

Anthony Hamilton

16143

Fri May 03 15:39:21 EDT 2013

Wendy S Dabney

16142

Sun Apr 28 16:36:31 EDT 2013

Amanda Lewis

16141

Sat Apr 27 00:50:59 EDT 2013

Terry Arndt

16140

Sun Apr 21 13:45:30 EDT 2013

Dan Aurian-Blajeni

16139

Sat Apr 20 15:17:55 EDT 2013

Michael Hill

16138

Sun Apr 07 09:41:16 EDT 2013

Brian Smith

16137

Sat Apr 06 22:49:19 EDT 2013

Janice Foss

16136

Sat Apr 06 16:50:18 EDT 2013

Ardeth Weed

16135

Thu Apr 04 20:56:10 EDT 2013

Steven

16134

Tue Apr 02 21:23:00 EDT 2013

Tami Linder

16133

Mon Apr 01 17:30:20 EDT 2013

Michael Hill

16132

Sun Mar 31 14:22:25 EDT 2013

Linda Brebner

16131

Thu Mar 28 16:34:27 EDT 2013

Janis Todd

16130

Tue Mar 26 19:27:09 EDT 2013

Marian Hall

The taxpayers are tired of paying the way for the wealthy.

16129

Tue Mar 26 17:01:17 EDT 2013

Anonymous

16128

Mon Mar 25 18:36:53 EDT 2013

Jacki Hunter

16127

Sun Mar 24 14:01:11 EDT 2013

Lawrence Merlino

16126

Sat Mar 23 18:36:11 EDT 2013

Anonymous

Find another way to handle banking and currency, and be quick about it, before these greedy evildoers completely collapse the whole system.